Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Dutch, German intelligence agencies uncover Turkish kidnapping, murder plots

The secret intelligence cabal directly controlled by the head of Turkey’s notorious National Intelligence Organization (MİT) under direct orders from the Turkish president has planned to assassinate a leading critic in Germany and execute a plan to kidnap another critic in the Netherlands, sources familiar with the cases told.

3 journalists detained after interview with jailed Gülen-linked businessman

Three local journalists in Turkey’s Gaziantep province were detained by police after releasing an interview with jailed businessman Ahmet Selim Ener, who was imprisoned over alleged links to the Gülen movement.

34 housewives arrested over Gülen links in İstanbul

Thirty-four housewives were arrested by a Turkish court on Saturday due to alleged use of a smart phone application called ByLock and links to the Gülen movement, which the Turkish government blames for a failed coup last July.

Is the Hizmet movement resisting normalization?

Accusing the Hizmet movement, which insistently demands the fulfillment of the steps towards democratization which I referred to above and contributes to the process of change as evidenced by its stance in the referendum, of serving as a parallel structure indirectly means: “I will not change myself and introduce universal reforms. You have to live with this painful fact for the normalization of the country and take your steps accordingly.”

1,000 families provided with meat Kimse Yok Mu in Ankara

International charity organization Kimse Yok Mu distributed sacrificed meat to a total of 1,000 families during the Eid al-Adha in Ankara on Thursday. Families received meat in boxes which were paid for the donations from benevolent Turkish people at one of the offices of the KYM in Mamak district.

Gülen’s lawyer dismisses wiretapping claims

In his statement, Gülen’s lawyer Albayrak said the allegations which appeared in some newspapers is totally baseless and targets Gülen in an unfair way and demands punishment for the individuals who were involved such accusations

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Gulen’s “Messenger of God: Muhammad” sold out at Buenos Aires book fair

Fethullah Gulen’s stance on democracy 1994-2016

Civil society-democratic relations, Gezi and the Middle East

The [Gulen] movement was a shade

GYV president Usak passes away in exile

Palauan President: We would like to participate in Turkish Language Olympics

Families Of Afghan-Turk School Students Hold Protest In Kabul [against Turkish Gov’t]

Copyright 2026 Hizmet News